Seattle Genetics inks drug licensing deal worth up to $1.2 billion

Seattle Genetics Inc. has reach a drug collaboration and license agreement with Pieris Pharmaceuticals Inc. worth up to $1.2 billion.

Seattle Genetics will pay Boston-based Pieris a $30 million up-front fee, royalties on some sales and up to $1.2 billion in milestone payments if the drugs reach their full potential.

The deal combines Seattle Genetics’ anti-drug conjugate technology and Pieris’ Anticalin technology to develop new antibody-Anticalin fusion proteins. 

“This partnership leverages…

Seattle Biz Journal
Seattle Genetics inks drug licensing deal worth up to .2 billion